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Auctioneers’ Conditions of Sale

Interpretation

In these conditions the following will have the following meanings:

“Appropriate Vehicle” means the vehicle which complies with the conditions specified in paragraph “10” of the Regulations.

“Bidder” means a prospective Purchaser who has provided the Auctioneers with a properly completed DVLA Timed Auction application and who has been issued with a Bidder’s Number by the Auctioneers.

“Bidder’s Number” means the number allocated by the Auctioneers to each prospective Purchaser who has made an application for such as Bidder’s Number.

“Certificate” means the Certificate of Entitlement in relation to the Relevant Right to be issued by the Vendor to the Purchaser following payment in full in accordance with the conditions.

“Lot” means in each case the Relevant Right to be acquired by the Purchaser from the Vendor relating to the registration mark in such Lot by the Auctioneers.

“Purchaser” means the highest bidder or the person declared by the Auctioneers as being the Purchaser.

“Regulations” means the Sale of Registration Marks Regulations 1995.

“Relevant Right” means a right acquired by the Purchaser from the Vendor to have assigned to an Appropriate Vehicle registered in the name of the Purchaser or a person nominated by him a registration number in accordance with the Regulations.

“Sale” means sale by auction.

“Schedule” means a Schedule to the Sale of Registration Marks Regulations 1995.

General

1. These conditions shall apply to all lots sold by British Car Auctions Limited (hereinafter called “the Auctioneers”) as selling agents for the Secretary of State for Transport (hereinafter called “the Vendor”) and shall be binding for every Purchaser and the Vendor.

2. The Vendor reserves the right to fix a reserve or minimum bid price for any Lot.

3. The Vendor reserves the right to withdraw from Sale at any time and without giving any reason for doing so any Lots advertised or catalogued to be offered for sale.

4. The auctioneers reserve the right to withdraw any Lot from Sale, or refuse to take any bid, without explanation even though the Sale may be in progress and the Lot is above reserve.

5. No Relevant Right may be transferred by any Purchaser or where relevant his nominee unless under the Regulations.

6. The Auctioneers cannot accept responsibility for the late arrival and/ or non-arrival of the auction catalogue.

7. The Auctioneers will not be held responsible for any consequences following a “force majure” leading to the cancellation, postponement or partial completion of an auction.

8. DVLA and the Auctioneers reserve the right to use any details regarding the auction for promotional purposes without revealing the identity of the Purchaser.

9. The Auctioneer will provide to the DVLA details of all the transactions including but not limited to the name and address of the Purchaser and the purchase price paid for the Relevant Right. The DVLA reserves the right to publish the purchase price details provided to it by the Auctioneer in any format it deems fit and the Purchaser hereby agrees to such publication.

10. Any person who makes a bid at the auction regardless of whether or not they have completed a DVLA Timed Auction application will be deemed to have accepted these terms and conditions.

Registration

11. The Auctioneers and DVLA at their discretion, reserve the right to refuse entry to the DVLA Timed Auction.

12. All Bidders must be over 18 years of age and shall apply to the Auctioneers for a Bidder’s Number. Prospective Purchasers must complete the DVLA Timed Auction Application relevant to the appropriate auction catalogue or online. The Auctioneer reserves the right to refuse an application to register as a Bidder if the applicant completes a DVLA Timed Auction Application not relevant to the appropriate auction and/ or has a history of late or non-payment relating to the purchase of registrations from the DVLA.

13. The Auctioneer reserves the right to carry out any appropriate financial checks on an individual, business or company to determine the financial standing of the individual, business or company making the application as Purchaser.

14. No bids will be accepted unless the bidder has first completed and delivered to the Auctioneer a DVLA Timed Auction application prior to the Timed Auction deadline.

Bidding

15. The Auctioneer will not start the bidding below the published reserve or minimum bid price. Once placed, bids cannot be cancelled.

16. The Auctioneers must receive bids before the published deadline (or “End Time”).

17. The “End Time” may be extended by the Auctioneers at any time and will be displayed on the website.

18. The “End Time” will be based on the auctioneer’s server time.

19. The successful bidder will be the highest bid received by the auctioneers for each lot before the deadline.

20. Each lot will be sold to the successful bidder for the amount of their winning bid and not less. No negotiations will be entered into.

21. Any dispute as to any bid shall be settled by the Auctioneers in their absolute discretion.

22. Every bidder shall be deemed to act as Purchaser unless he confirms that he is acting as agent and provides the name and address of his Purchaser to the Auctioneers in accordance with condition 30. Registrations that do not attract a bid will be declared as unsold by the Auctioneer. Such registrations will not subsequently be offered for sale by private treaty. The Vendor may choose to offer such registrations by some other means without prior notice.

23. Bids will be accepted only from Bidders who have registered with the Auctioneers. The Auctioneers, nevertheless, have absolute discretion to refuse any bid without giving a reason.

24. Immediately on the sale of a lot a legally binding contract shall be deemed to have been formed between the Purchaser and the Vendor.

25. The Auctioneers shall not be held responsible for any loss of communication or connection between a Bidders’ internet system and that of the Auctioneers, however caused.

26. The Auctioneers do not accept any responsibility for the mis-use of your log in details.

27. The Auctioneer has the complete discretion as to the manner in which the auction is conducted and the order in which lots are offered for sale not withstanding any numbers given to lots within the catalogue.

28. The Auctioneer has the sole discretion and the right to refuse any bid, and/or to withdraw a lot from the auction and if a dispute arises to re-auction a lot.

Sale

29. On the sale of any Lot the contract shall be deemed to have been made between the Vendor and the Purchaser and neither the Vendor nor the Purchaser nor (where relevant) his nominee (nor any other party) shall have any legal right of action against the Auctioneers in respect of any cause or matter arisen out of the sale.

30. The Purchaser, if, he is acting for a named Company and wishes that person to be named as the Purchaser (for the purposes of the Regulations) on the Certificate of Entitlement, and/or he is acting for a named Purchaser who wishes some other person to be named as the nominee of that Purchaser (in accordance with the Regulations) on the Certificate of Entitlement, or he is acting as Purchaser and wishes to nominate some other person as his nominee (in accordance with the Regulations) must provide the Auctioneers with the full name(s) and address(es) of the Purchaser and the name of the nominee (as the case may be) to be named on the Certificate of Entitlement as the Purchaser and/or his nominee before making payment or within 5 working days after the auction, whichever is the sooner.

Payment

31. Both the agent and Purchaser are equally and severally responsible for payment.

32. Customers who have bid online will be sent an email showing the outstanding balance. Payment of the outstanding balance must be made in full within 5 working days from the close of the auction. It is of critical importance that funds are readily available to you to pay the purchase price for the Lot in full before you make a bid.

33. VAT at the current rate is payable on the Bid Price of every Lot.

34. The Purchaser shall pay to the Auctioneers on making payment for the Lot, a premium of 7% of the final bid price, plus VAT on the hammer price and buyer’s premium together with the £80 assignment fee.

35. A payment by credit card will not confer upon the Purchaser or nominated person an entitlement to the Relevant Right until cleared funds have been received by the Auctioneer from the credit card provider and will not until such time be deemed to constitute Payment within the meaning of these conditions.

36. The Auctioneer is not liable for any disruption and/or failure to the internet based payment system. The Auctioneer reserves the right to withdraw the service at any time with or without notice and the Purchaser must arrange to use an alternate method of payment.

37. If the price of any Lot and any other payment due is not paid in full the Auctioneers/Vendor reserve the right to pursue the Purchaser and legal action will be taken to recover the full or outstanding balance appropriate.

38. If a Purchaser buys more than one Lot he must have paid for them in full before Certificates will be issued in respect of any of them.

39. When payment in full for all the Lots purchased has been received the Purchaser or some other person nominated by him in accordance with paragraph of the Schedule shall be entitled to acquire the Relevant Right. The registered mark described in the Lot may then be assigned to an Appropriate Vehicle registered in the Purchaser’s name or that of the nominated person whose name has been provided to the Auctioneers by the Purchaser on the day of the sale.

40. On the sale of a Lot a contract is formed with the Secretary of State for Transport and included in that a contract is deemed to have been formed between the Purchaser and the Auctioneer. In the event of late payment, the Auctioneer reserves the right to recover the amount owing to him and/or deal with the matter in any way they see fit. The Auctioneers retain the right to add a special service charge in the event of late payment.

41. If the full purchase price is not received for a Lot then the Auctioneer will without providing further notice to you and at the Auctioneer’s complete discretion be entitled to exercise any of the following:

a. To resell the lot by auction or any other means and reclaim any loss on the resale from any monies already paid by the Purchaser.

b. To charge interest on the purchase price at 5% per annum above the Bank’s base lending rate from time to time to be calculated on a daily rate from the date which the purchase price becomes payable to the date of actual payment.

c. To deduct from any part payments or deposits already paid, the interest payable, buyers premium and any service charges due.

d. To sell any other property in the Auctioneers possession or control for any purpose (including without limitation of the lot sold to you) and to apply any monies due to you as a result such as sale in payment or part payment of the purchase price and/or towards satisfaction of any amounts owed to the Auctioneer pursuant to these conditions of sale.

e. Reject a bid from you at any future sale or require you to pay an amount on account by way of deposit before any bid will be accepted from you at a future sale.

f. Such deposit or money on account can be applied by the Auctioneer as payment or part payment towards the purchase price of any future lot for which you are the successful bidder.

g. You will indemnify and keep the Auctioneer and the seller fully indemnified against all legal and other costs of enforcement and any other expenses and losses (including the fees to which the Auctioneer is entitled and are incurred by the Auctioneer) on a full indemnity basis together with any interest thereon at a rate of 5% per annum above the bank base lending rate to the date upon which the seller becomes liable to pay such costs or incurs such expenses or suffers such losses.

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